Duration of Recurring Deposit
Customers can open a Recurring Deposit account with a bank, where the compounding of interest will be done on quarterly basis. The deposit term starts with a minimum period of 6 months, and after that they can choose to increase the tenure in multiples of 3 months up to a maximum period of 10 years. The minimum period for a RD varies from bank to bank. Some banks specify 24 months as minimum duration.
Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
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